JAKARTA. PT Arwana Citramulia Tbk (ARNA), a ceramic manufacturer with known brands such as Arwana and UNO, booked net profit of IDR 203.15 billion in the first half (H1) of 2024.

This number slipped 16.6% year-on-year (yoy) from the same period last year. In H1 2023, its net profit was IDR 243.57 billion.

In the recently released financial report, ARNA’s net profit decline is in line with its net sales that only reached IDR 1.22 trillion in H1 2024, or down 0.3% yoy.

Meanwhile, ARNA’s cost of revenue in H1 2024 swelled 6.4% yoy to IDR 803.4 billion. In the same period last year, its cost of revenue only reached IDR 754.9 billion.

According to IDNFinancials data, ARNA reported total assets worth IDR 2.42 trillion as of June 2024, with cash and cash equivalent of IDR 240.29 billion, and total equity of IDR 1.69 trillion.

For the record, ARNA is targeting to attain net profit of IDR 461 billion, or 4% higher than 2023 net profit realisation, which will be driven by its sales that are projected to grow by up to 7.6% yoy. (KR/ZH)